Boothbay Fund Management LLC cut its position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 62.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,718 shares of the industrial products company’s stock after selling 46,975 shares during the quarter. Boothbay Fund Management LLC’s holdings in Emerson Electric were worth $3,767,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Darwin Wealth Management LLC purchased a new position in Emerson Electric during the 2nd quarter valued at about $29,000. Wealth Watch Advisors INC purchased a new stake in Emerson Electric in the third quarter worth about $33,000. Winnow Wealth LLC bought a new position in shares of Emerson Electric during the second quarter valued at approximately $34,000. Traub Capital Management LLC purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Emerson Electric in the 2nd quarter worth approximately $39,000. 74.30% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Price Performance
Shares of NYSE:EMR opened at $133.07 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.62 and a current ratio of 0.84. The firm has a market cap of $74.78 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 2.10 and a beta of 1.24. The business has a 50-day simple moving average of $147.52 and a two-hundred day simple moving average of $137.91. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $165.15.
Emerson Electric Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were given a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, February 13th. Emerson Electric’s payout ratio is 54.28%.
Wall Street Analysts Forecast Growth
EMR has been the subject of a number of analyst reports. Evercore raised their price objective on Emerson Electric from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. UBS Group raised Emerson Electric from a “neutral” rating to a “buy” rating and increased their target price for the stock from $131.00 to $168.00 in a research note on Monday, January 5th. Wolfe Research reduced their price target on Emerson Electric from $177.00 to $176.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Robert W. Baird upped their price target on shares of Emerson Electric from $143.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Finally, Citigroup increased their price objective on shares of Emerson Electric from $165.00 to $174.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Eleven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $164.85.
Check Out Our Latest Stock Analysis on Emerson Electric
Insider Buying and Selling at Emerson Electric
In other Emerson Electric news, Director Matthew S. Levatich sold 1,476 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $162.16, for a total transaction of $239,348.16. Following the completion of the sale, the director directly owned 24,349 shares in the company, valued at approximately $3,948,433.84. The trade was a 5.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Nicholas J. Piazza sold 6,703 shares of Emerson Electric stock in a transaction on Monday, February 9th. The stock was sold at an average price of $159.07, for a total value of $1,066,246.21. Following the completion of the sale, the vice president directly owned 31,664 shares of the company’s stock, valued at $5,036,792.48. The trade was a 17.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,879 shares of company stock worth $2,116,818. Insiders own 0.23% of the company’s stock.
Emerson Electric Profile
Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.
Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.
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